And unless the investor(s) have the same decision making rights and responsibilities as you, the same rights and ability to hire and fire contractors and managers, and the same rights to manage the property, they are passive investors according to the SEC and most state security regulators.So, if they are passive investors, you are offering a security.  

Insulated plywood in my area is like a SIP with foam insulation between two layers of plywood. 2" would equal R-13 because it is 6.5 R per inch on many types. 

Weirdly cool how this foam works!

The fact that the banks appeared at probate, prepared an order acknowledging their debt, and that the bank(s) have been paying the property taxes and HOA dues, all indicate that they intend to preserve their interest.  

Everything from pre-fab foam panels to high-end finished woods are available at great prices... it just takes awhile to get to know the "guy" or "gal" and build a relationship to where you can make a couple calls and the necessary materials... materialize...

When I blew the lines out, enough water came out that I could've made a pot of coffee, brushed my teeth, and shaved.

Don't worry, I'll get a hair cut and shave this weekend.

LOL, I don't think I meant that as a theory, but rather shaving away the implication that the lender has a right to enforce it's vengence against someone who was not obligated to them under any contract.

My previous negotiator(s) have all been extremely easy to reach.

That's a $7,000 difference in the level of rehab i can do, and although i might be able to shave some of that off during the project, it's going to lessen the property and ultimately my profits, hence the need to be able to walk away, if my CMA's and my lender's appraisal are not on the same page.Also i'm primarily submitting offers on REO's so adding a financing contingency is not an option.Thanks for the feedback though